In Nigeria, there are several wealthy families that have grown to be successful empires, owning assets and investments worth billions of dollars and have become very influential in the Nigerian society. According to Forbes, these families control about 80% of what is happening in Nigeria’s economy. In this article, we will list and discuss the top 10 richest families in Nigeria in 2023, their businesses, and their net worth.
10. Fajemirokun Family
You might not have heard of this family because they’re not into the limelight but they have assets and investments scattered all over the country.
Henry Oloyede Fajemirokun, the forerunner of the family is one of the key industrialists and businessmen in the country. Some of Fajemirokun family achievements are well documented. He led the negotiations that saw the establishment of a merchant bank. He also founded a pioneer company that was the first indigenous private oil company in the Nigerian Oil industry, Henry Stephen.
9. Otedola Family
The Otedola family is another wealthy family in Nigeria, and its patriarch, Femi Otedola, is a successful businessman and entrepreneur. Femi Otedola is the founder of Zenon Petroleum and Gas Limited, which is one of the largest oil marketing and trading companies in Nigeria.
Aside from his business ventures, Femi Otedola is also a philanthropist and has donated millions of dollars to various causes in Nigeria. He also has three equally successful daughters, The kast daughter, DJ Cuppy, is also a successful disc jockey (DJ) and entrepreneur. Hus first daughter, Tolani, is a successful singer and the middle daughter, Temi Otedola, is a very popular actress and fashion enthusiast who is currently engaged to Afrobeat artist, Mr Eazi.
8. Okoya-Thomas Family
Prince Molade Okoya-Thomas was the chairman of CFAO Nigeria Limited and the brain behind the wealthy Okoya-Thomas family. Although late, he was succeeded by his children, who have continued to grow the family’s wealth. Princess Olajumoke Abidemi Okoya-Thomas, a prominent member of the family, is a member of the Federal House of Representatives of Nigeria representing Lagos Island I Federal Constituency.
7. Igbinedion Family
Chief Igbinedion is the father of Lucky igbinedion, a former governor of Edo state. He is said to have assets worth millions of dollars. He was conferred the chieftaincy title of Esama of Benin, by the late Oba Akenzua II. He owns various businesses among which include an oil refinery, private university (Igbinedion University), a private broadcast station, a private bank, mines and chains of hotels in the country.
6. Ibru Family
The Ibru family is one of the most powerful families in Nigeria and owns one of the largest conglomerates in the country, the Ibru Organization. The conglomerate, founded in 1956 by Michael Ibru, has interests in various sectors, including aviation, oil and gas, shipping, banking, and the agric sector. The Ibru family members include Michael’s first son, Olorogun Oskar Ibru, Felix Ibru, Alex Ibru, Oboden Ibru, and Cecilia Ibru. Alex Ibru, an ex-minister of Internal Affairs between 1993 and 1995, is said to be the present chairman of Rutam Motors. Felix Ibru was a one-time governor of Delta State, while Cecilia was the former Chief Executive Officer of Oceanic Bank and its Managing Director.
5. Elumelu Family
The Elumelu family is another prominent family in Nigeria, and its patriarch, Tony Elumelu, is a successful businessman and philanthropist. Tony Elumelu is the founder of Heirs Holdings, an investment company with interests in various sectors, including banking, energy, and agriculture.
Aside from his business ventures, Tony Elumelu is also a philanthropist, and his Tony Elumelu Foundation supports entrepreneurship and economic development in Africa. His wife, Awele Elumelu, is also a philanthropist and supports various causes in Nigeria.
4. Dantata and Dangote Family
The Dantata Family is currently one of the richest families in Nigeria, and it all started with Alhassan Dantata, a trader who dealt in kola nuts, ground nuts, and other businesses. Alhassan Dantata was one of the wealthiest men in West Africa when he was alive. Other members of this powerful family include Ahmadu Dantata, his son, and a politician, Alhaji Abdulkadir Dantata, his grandson, Alhaji Mudi Dantata, his son who is a successful businessman, Aliko Dangote, his great-grandson and Forbes richest black billionaire in the world, Aminu Dantata, his son, and also a businessman, Mamuda Dantata, his son, who is the founder of the West African Pilgrims Association and a currency trader, and Sanusi Dantata, his son and a successful businessman.
So also, The Dangote family is one of the most prominent families in Nigeria, and its patriarch, Aliko Dangote, is the richest man in Africa and topped the list if Africa’s richest people in 2022. Aliko Dangote’s business empire includes Dangote Group, which has interests in cement, sugar, salt, flour, and other commodities.
Aside from his business ventures, Aliko Dangote is also a philanthropist and has donated millions of dollars to various causes in Nigeria. The Dangote Foundation, which is run by Aliko’s daughter, Halima Dangote, focuses on health, education, and economic empowerment.
3. Briggs Family
Starting at number one is none other than the Briggs family. The Briggs family is one of the wealthiest families in Nigeria, with millions of naira worth of investments . The head of the family, Chief Olu Benson Lulu-Briggs, is the founder of Moni Pulo Limited (MPL), a privately-owned indigenous oil and gas company located in Port Harcourt. MPL operates in line with international standards and requirements and is the operator of the OML 114. Mrs Seinye Lulu-Briggs, Chief Lulu-Briggs’ wife, is one of the richest businesswomen in Nigeria and the CEO of Rachael Hotels Limited. Another notable member of the Briggs family is Chief Dumo Lulu Briggs, a lawyer and former Executive Director and COO of MPL.
2. Adenuga Family
The Adenuga family is another notable family on the list of richest families in Nigeria. The head of the family, Mike Adenuga, is one of the wealthiest individuals in Africa, and his company, Globacom, is one of the largest telecommunication providers in Nigeria.
Aside from telecommunications, the Adenuga family also has interests in real estate, oil and gas, and banking. Mike Adenuga is also a philanthropist, and his foundation, the Mike Adenuga Foundation, has donated millions of dollars to various causes in Nigeria.
1. Adeleke Family
The Adeleke family is another prominent wealthy family in Nigeria that deserves a spot on this list. The Adeleke family is well-known for their business and political influence, particularly in Osun State, Nigeria.
The late Senator Isiaka Adeleke was the patriarch of the Adeleke family. He was a Nigerian politician and a former governor of Osun State. He founded several successful businesses including an automobile sales and servicing company, a construction company, and a supermarket chain. He also owned several large farms and was a prominent member of the All Progressives Congress (APC) political party.
One of Senator Adeleke’s sons, Adedeji Adeleke, is also a successful businessman and the founder of Pacific Holdings Limited. The company has interests in several sectors, including finance, energy, real estate, and hospitality. Adedeji Adeleke is also the father of popular Nigerian musician, Davido. Other members of the Adeleke family include Deji Adeleke, who is Adedeji Adeleke’s brother and a businessman with interests in the education sector. He is the founder of Adeleke University, a private university located in Ede, Osun State. Also, B-Red, another popular Nigerian musician, is a nephew of the Adeleke family. They are also known for their philanthropic activities and have contributed significantly to the development of their community and the country as a whole.
Listed above are some of the wealthiest and most influential families in Nigeria. Their business empires have contributed significantly to the country’s growth and economy, and their philanthropic efforts have impacted many lives in Nigeria. It is important to note that this list is not exhaustive, as there are many other wealthy families in Nigeria who are not mentioned here.